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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: E. T. who wrote (232920)	3/2/2002 12:01:29 PM
From: Neocon	Respond to of 769670

There was nothing wrong with the math. The criticism is about real- world investing. But I agree with the White House: what the president said was clear enough.

To: E. T. who wrote (232920)	3/2/2002 1:08:34 PM
From: Selectric II	Respond to of 769670

The NYT headline and story were utterly misleading, as usual. The last paragraph, stuck at the very end by the NYT in keeping with its left wing bias, sums it up: Claire Buchan, a White House deputy press secretary, said Mr. Bush's illustration was not intended to portray an actual experience that could result from one of the president's proposals or even the portfolio that an actual investor would probably choose. "It was for the purpose of example," Ms. Buchan said. "It was very clear what he was saying."

To: E. T. who wrote (232920)	3/2/2002 2:10:32 PM
From: DavesM	Respond to of 769670

IMHO, Edward Wyatt and Harold Evensky (a principal at Evensky, Brown & Katz, a financial planning firm in Coral Gables, Fla.), may have forgotten an invisible part of FICA taxes a person pays... the Employer Contributions to FICA. You put that in the mix, and it is truly depressing how much a return Social Security recipients receive. "But to get that $3,700 a month, a person would have to invest every penny of his retirement savings or Social Security payroll taxes in the stock market his entire work life." If you include the Employer half of FICA contributions, I figure that the above statement is correct, if someone makes like $6 per hour (working full time) their entire work life. Of course, I'm not a financial planner, let alone a Principal in a financial planning company.